By Tony O. Lawson Founders First Capital Partners has raised $18.59 million for its Change Catalyst Fund II as the firm reports growing demand from established small businesses seeking to refinance high-cost merchant cash advances. The San Diego-based alternative credit firm, founded by Kim Folsom, announced the milestone on October 6, 2026. Its loan deployment increased 46% year over year, while merchant cash advance (MCA) refinancing now accounts for more than 61% of its loan fundings. Short-term, sales-based financing can provide businesses with quick access to capital, but its repayment structure can also place pressure on the cash needed for

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